Price May Not Be a Serious Factor in a Purchase

question 54

Multiple Choice

Price may not be a serious factor in a purchase of a product when all of the following scenarios exist EXCEPT:

• A) when it falls within the consumer's implicit price range.
• B) if it is an impulse purchase.
• C) for products that a consumer is loyal to.
• D) if the purchase is made habitually.
• E) if it is a high-involvement product.

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Definitions:

Recession

A period of temporary economic decline during which trade and industrial activities are reduced, typically recognized by a fall in GDP in two consecutive quarters.

1937-1938

The period marking a recession within the Great Depression in the United States, often attributed to contractionary monetary and fiscal policies.

1980

A year notable for various significant global and national events, including economic changes, political decisions, and cultural shifts.

Economy

An economy encompasses all activities related to production, consumption, and trade of goods and services in an area or country.